Markets Plummet On Profit Taking

The markets retreated to close sharply lower with the Dow plummeting 159 points to 16,412 despite positive jobs growth as investors locked in profits. Nasdaq collapsed 110 points to 4127.

On the upside

Synnex (NYSE: SNX) reported higher first quarter earnings and revenue that surpassed analyst expectations and forecast current quarter results ahead of estimates.

Bargain hunters snapped up shares of Exact Sciences (Nasdaq: EXAS).

Shares of Cemex (NYSE: CX) rose after Bloomberg reported that rival cement makers Holcim and Lafarge were exploring a possible merger.

On the downside

Canaccord raised its price target on Novadaq Technologies (Nasdaq: NVDQ) from $23 to $26 but the stock price fell.

Investors locked in profits on AthenaHealth (Nasdaq: ATHN).

Retrophin (Nasdaq: RTRX) changed its independent accounting firm from Marcum to BDO.

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by more than 5 to 1 on Nasdaq. The broader S&P 500 plunged 23 points to 1865. Bitcoin edged up $0.81 or 0.18% to $446.56.

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